Home / Knowledge / News / Apparel/Garments / Shanta Group in JV with UK firm
Shanta Group in JV with UK firm
05
Apr '10
One of the leaders in garment production, Shanta Group, is in talks with a UK company to sell a certain amount of shares in two of its units for $15 million.

According to one of the directors of the company, Khondoker Jamil Uddin, more than 51 percent of these shares, will stay with Shanta Group for the 'purpose of operational benefits'.

A six-member team from UK are negotiating with the shareholders of Shanta Group to strike a deal. However, Jamil informed that since everything is going as per plan, the deal is soon to be signed.

Located at Dhaka Export Processing Zone, shares from both Shanta Industries and Shanta Denim will be sold. Shanta Industries was established in 1998 and Shanta Denim in 2002. As per Jamil, Shanta was facing problems in manning the business and had therefore decided for foreign partnership.

Insufficient supply of gas and power was making it impossible for them to meet their production deadlines. Trousers, shorts, shirts, blouses, dresses and vests are products produced by Shanta Industries and Shanta Denim.

Tommy Hilfiger, American Eagle, Gymboree, GAP, International Sourcing, Marks and Spencer, Levis and Next are some of Shanta's primary customers.

Of the total number of 7000 labourers working in Shanta Group, almost 4000 are employed in the above mentioned factories. Apparels worth $55 million were exported in 2009 of which Shanta Denim accounted for $30 million.

Shortage of gas and power, frequent labour unrest, fall in the export orders from international buyers and continued downward price pressure from them are the problems forcing other important groups as well, to hunt for either more global purchasers or enter into joint-ventures.

Fibre2fashion News Desk - India


Must ReadView All

EU, Japan finalise Economic Partnership Agreement

Textiles | On 18th Dec 2017

EU, Japan finalise Economic Partnership Agreement

Building on the political agreement reached in principle during the...

WTO, ITC launch cotton portal to enhance transparency

Textiles | On 18th Dec 2017

WTO, ITC launch cotton portal to enhance transparency

The World Trade Organisation (WTO) and the International Trade Centre ...

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search